Wall Street stocks end lower after US attack kills Iran general, Dow -0.8%

New York, Jan 4 (AFP/APP): Wall Street stocks ended a winning streak of records to finish solidly lower Friday, as Iran vowed to avenge the US killing of one of its top military commanders in Baghdad. The Dow Jones Industrial Average lost 0.8 percent to end the session at 28,634.88. The broad-based S&P 500 dropped 0.7 percent to 3,234.85, while the tech-rich Nasdaq Composite Index fell 0.8 percent to close at 9,020.77. Major indices had closed at records on Thursday, but the US attack on Qasem Soleimani — and Iran’s threat to avenge his death — shook the market out of a state of contentment that has produced numerous records in recent weeks. In Washington, a Pentagon official said the US would deploy at least 3,000 additional troops to the Middle East as Iran’s supreme leader Ayatollah Ali Khamenei promised “severe revenge” for the death of the military mastermind. The killing of Soleimani represents “a significant spike in geopolitical risks and could lead to a direct confrontation between the US and Iran,” Oxford Economics said in a commentary. Stocks were in the red the whole day, while oil prices rallied. Still, the moderate size of the equity market losses suggested … Continue reading Wall Street stocks end lower after US attack kills Iran general, Dow -0.8%